Broadcom (NASDAQ:AVGO) Stock Price Down 1.5% – Should You Sell?

Broadcom Inc. (NASDAQ:AVGO)’s stock price was down 1.5% during mid-day trading on Thursday . The company traded as low as $191.05 and last traded at $191.98. Approximately 5,444,357 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 29,073,970 shares. The stock had previously closed at $194.98.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AVGO shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. Bank of America upped their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Benchmark reaffirmed a “buy” rating and issued a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. Evercore ISI boosted their price objective on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Piper Sandler raised their target price on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Stock Performance

The stock has a market cap of $901.18 billion, a PE ratio of 156.33, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The stock has a fifty day moving average of $214.38 and a 200-day moving average of $194.79. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Insider Transactions at Broadcom

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares in the company, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 172,168 shares of company stock worth $40,508,877 over the last 90 days. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Broadcom

Institutional investors have recently modified their holdings of the company. Canton Hathaway LLC purchased a new stake in Broadcom during the fourth quarter worth $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom during the 4th quarter worth $26,000. Sunbeam Capital Management LLC purchased a new stake in shares of Broadcom in the 4th quarter worth about $28,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Broadcom in the 4th quarter worth about $30,000. Finally, Sellwood Investment Partners LLC acquired a new stake in Broadcom in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.